CES changed to "China Electronics Show"? Foreign media: Chinese enterprises shape the future of technology
ã€World Wide Web Reporter Li Zongze】 According to the British "Financial Times" reported on January 16, last week at the Consumer Electronics Show in Las Vegas (referred to as CES) there are many exhibitors from China - the total number of 4500 One-third -- some representatives joked that CES is now an abbreviation for "China Electronics Show".
Due to its position in the supply chain, China’s role in the global science and technology field has long been entrenched. However, at the CES and other exhibitions, China is no longer just a supplier of product parts or equipment assemblers. Chinese technology companies are increasingly winning with their own products. Shenzhen DJI (DJI) is the world's largest manufacturer of drones. GoPro, a Chinese OEM manufacturer, recently decided to stop selling its latest drone.
However, the value of technology today is increasingly reflected in services and content, not the device itself. The combined market capitalization of Google, Apple, Facebook, and Amazon is worth $2.8 trillion, far more than any hardware-only seller. In terms of services and content, China is also catching up. China’s Internet giant Tencent and Alibaba’s valuation total US$1 trillion. Coupled with Baidu, Jingdong, and NetEase, as well as other listed or unlisted companies, including headlines, US missions, and Didi, the valuation of these companies adds up to about 200 billion US dollars. The scale of the Chinese market is obvious. Some emerging trends in China are beginning to shape the future of global technology. In addition to its dominance in the supply chain, we now also need to look at this country from the "demand chain" aspect.
American technology giants are already global companies. However, Chinese companies have just begun to look overseas. Last week, shared travel company Didi bought a Brazilian car company 99, which is bound to affect the prospects of rival Uber in the country. Both Alibaba and Tencent have invested heavily in India, putting increasing pressure on Amazon.
It does not mean that China itself lacks growth. Due to huge investments in mobile broadband and a highly competitive mobile phone market, almost 750 million Internet users in China are using smartphones. The QR code payment led by Tencent WeChat and Alipay Alipay made the cash obsolete. There is no pile of bicycles on the streets of Chinese cities. China’s physical infrastructure—highways, high-speed rail, and airports—has greatly boosted consumer spending, commensurate with the role played by President Eisenhower in the US in promoting the construction of an interstate highway network in the United States in the 1950s.
Why China's development is so rapid? The first reason is the fierce competition among Internet companies in China. The second reason is that Chinese consumers can quickly accept new things: very few people are obsessed with the past. When the shops were overcrowded, it was difficult to get a taxi in the street. The customers waiting for the business in the bank were huge crowds of people. In China today, convenience has become a new creed advocated by people.
In Washington, the call for protectionism is getting louder and louder. The United States has banned Huawei from supplying mobile phones for AT&T and rejected Alibaba’s financial affiliate Ant Financial Services’ purchase of US money transfer company MoneyGram. The reason is for security considerations. For the United States, setting up trade and investment barriers is a dangerous move. The US’s ranking in terms of Internet speed and tariffs has dropped, and Chinese companies can help increase the affordability of technology in the United States. U.S. technology companies need the scale of the Chinese market to help put the country’s emerging technologies into production and applications, just as Facebook recently launched the Oculus VR headset with Xiaomi.
As both countries have begun to focus on the development of artificial intelligence, as an “experimental fieldâ€, China’s role has become even more important. Companies in Silicon Valley are clearly aware of this, including Google, which had just announced the establishment of an artificial intelligence lab in Beijing.
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